Social media prompts growth in identity fraud

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Social media prompts growth in identity fraudA new report by not-for-profit fraud prevention specialist Cifas reveals that identity fraud in the UK is spiraling out of control. Due to the huge increase in data held online, criminals are increasingly using social engineering techniques to exploit flaws in human psychology to manipulate their victims into jeopardising their own security.

Identity fraud is up 5% in the first half of 2017, to nearly 90,000 reported incidents – most of them online. There is also a shift away from bank accounts and cards towards telecom and online shopping fraud. While most victims fall into the young middle age bracket, the number of under 21 casualties is on the increase.

Education is still the best defence against identity fraudsters – keeping vigilant, knowing what to look out for and resisting temptation. In other words, going against our natural human instincts.